Shenzhen Jianyi Decoration Group Co., Ltd. announced a private placement of not more than 47,887,000 A shares for gross proceeds of not more than CNY 485,000,000 on July 6, 2023. The transaction included the participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.

The issue price is not less than 80% of the average price of the company's stocks 20 trading days before the pricing reference date of the transaction. The transaction has been approved by the 10th Meeting of the Company’s 4th Directorate, and still subject to the approvals of the Company’s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.